Have any of you used FreeAgent or a similar package to do your accounts rather than using an accountant? If I'm organised enough to pay my tax on time and to keep on top of the legal issues then would this be a good solution?
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Loopy Loo -
lje
I have used FreeAgent alot and we recommend it to all our contractor clients.
It is a good application, IMHO, as it enables you to manage your business and keeps you up to date with your tax timeline.
Obviously, it goes without saying that if you dont keep your books up to date or do it wrong then it wont help much ! - But their support forum is full of useful advice so once you get used to what youre doing it doesnt take much to keep up to date.
You may still need an accountant to do the year end accounts for you and the CT600, as well as file these online with Companies House and HMRC. If you have got a tidy set of records in FreeAgent then you shouldnt find this to be a huge sum.
Direct with FreeAgent will cost you arround £300 - an accountant to file the above probably arround £300 also.
Thats why we integrated FreeAgent with our accountancy service at £540+VAT per annum , but you get the advice and support along the way too, which could be of some help.
Phil -
I don't think FreeAgent replaces an accountant, though it does make their life a lot easier. You can probably get away without an accountant if you're a sole trader and can figure out which numbers to put in which boxes on your personal tax return, but it won't assist at all with your Ltd Co statutory accounts.
There are several accountants, ourselves included, who offer services including the FreeAgent software. Have a look here to see the main ones.Comment
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